PHCN: NERC reels out new guidelines for investors

The Nigerian Electricity Regulatory Commission, NERC, on Thursday, said there were new guidelines to be followed by investors in the electricity sector next year.

The commission’s Chairman, Dr Sam Amadi, made the announcement at a news conference in Abuja.

Amadi who spoke at the National Union of Electricity Employees, NUEE, yesterday assured that no staff of the Power Holding Company of Nigeria, PHCN, would be sacked without payment of their entitlements.

Mr Joe Ajaero, General Secretary, NUEE, however warned in an interview with the News Agency of Nigeria, NAN, in Lagos that no staff of PHCN will be sacked without his/her emolument paid.

But Amadi disclosed that it was part of the mandates of the commission to update the public on the commission’s critical areas of development.

“The new guidelines are part of what we are doing to prepare the market toward privatisation.

“We have been doing this to prepare the rules for successful post privatisation market and one of the rules is the one on rate application.

“We want a regulation that will allow companies to apply for any rate increase, change customer classes, change tariff and change regulator.

“We also want a regulation that will back the review of everything and our requests are currently waiting for approval.”

Amadi said that the commission had also prepared regulations to guide investments in the sector and to reduce the cost of energy.

“Investors must obtain approval from NERC before making such investments.